MARKET CLOSE: NZ shares up – but Plexure drops on NZX price enquiry

Craigs Investment Partners' Greg Easton: "Quite a lot of optimism coming out of the US"

New Zealand shares gained, led higher by Ryman Healthcare and Stride Property, as Plexure Group dropped following a price enquiry.

The S&P/NZX50 Index rose 18.59 points, or 0.2 percent, to 8,443.5. Within the index, 26 stocks rose, 19 fell and five were unchanged. Turnover was a light $89 million.

"The market has had a positive start to the year with good leads from offshore," said Greg Easton, adviser at Craigs Investment Partners. "There's quite a lot of optimism coming out of the US  the tax changes, the economy is growing, jobs news has been good."

Ryman Healthcare led the index higher, up 2.5 percent to $10.91. Stride Property rose 2.3 percent to $1.79, with Auckland International Airport gaining 1.7 percent to $6.69.

Synlait Milk was the worst performer, down 2.7 percent to $6.91, with Air New Zealand falling 1.6 percent to $3.16 and Sky Network Television dropping 1.4 percent to $2.80.

Outside the benchmark index, Tower gained 2.3 percent to 68 cents. A substantial product holder notice filed yesterday shows National Australia Bank ceased to be a substantial shareholder on Dec. 28, when it sold down half its stake in the general insurer, leaving it with 3.7 percent.

Plexure Group plunged 21 percent, or 5 cents, to 19 cents. The company today said it continues to comply with NZX disclosure rules after a price enquiry from the stockmarket operator. The NZX enquiry came after Plexure shares jumped 55 percent, or 8.6 cents, to 24 cents over the course of yesterday.

(BusinessDesk)


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Commenter icon key: Subscriber Verified

Plexure continues its trend of downwards, maybe if they rebrand again as mobvob or moneypitvoucher they may bounce back?

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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7343 0.0004 0.05%
AUD 0.9350 0.0033 0.35%
EUR 0.5957 0.0005 0.08%
GBP 0.5267 0.0024 0.46%
HKD 5.7450 0.0032 0.06%
JPY 78.9680 0.1740 0.22%

Commods

Commodity Price Change Time
Gold Index 1331.2 -16.170 2018-02-20T00:
Oil Brent 65.0 0.410 2018-02-20T00:
Oil Nymex 61.8 0.080 2018-02-20T00:
Silver Index 16.4 -0.270 2018-02-20T00:

Indices

Symbol Open High Last %
NASDAQ 7209.0 7295.9 7239.5 -0.07%
DJI 25124.9 25179.0 25219.4 -1.01%